New Listings mid-week May 13
A trickle of New Listings, but homes are still selling – read The number of Accepted Offers is increasing – as buyers and sellers make creative arrangements for viewing. Also read Why are more Sellers opting for Private Listings?
Marblehead New Listings
Swampscott New Listings
Salem New Listings
Beverly New Listings
Lynn New Listings
A Calmer Mortgage Market
Recession and Recovery
Andrew Oliver
Market Analyst | Team Harborside | teamharborside.com
REALTOR®
Sagan Harborside Sotheby’s International Realty
One Essex Street | Marblehead, MA 01945
m 617.834.8205
www.OliverReports.com
Andrew.Oliver@SothebysRealty.com
Sotheby’s International Realty® is a registered trademark licensed to Sotheby’s International Realty Affiliates LLC. Each Office Is Independently Owned and Operated
The number of Accepted Offers is increasing
While still running well below the levels of last year (see chart below), the number of Accepted Offers (AO) for SFHs received in Essex County in the latest week shows increasing activity. In fact the number of AOs (with the probability that a few more will be reported tomorrow) last week was close to the number back in March when active\ivity was strong.
This is the chart I post each week showing the Year-on-Year increase compared with 2019. Note that Holy Week was week 14 in 2020 and week 16 in 2019:
And this is the percentage change compared with the same week in 2019.
Ignoring the spike in week 16 as a result of the timing of Holy Week, the improving trend is clear as the percentage decline has slowed from around 50% to just over 30%.
Comment
The real estate industry – professionals involved in transactions, as well as buyer and sellers – has adapted to the COVID-19 world. Buyers are out there and inventory remains low. Also, bear in mind that some sellers are requesting that their properties are not listed in MLS, so if you are checking on Zillow you might not be seeing all that is available.: you need to speak to a real estate agent.
Andrew Oliver
Market Analyst | Team Harborside | teamharborside.com
REALTOR®
Sagan Harborside Sotheby’s International Realty
One Essex Street | Marblehead, MA 01945
m 617.834.8205
www.OliverReports.com
Andrew.Oliver@SothebysRealty.com
Sotheby’s International Realty® is a registered trademark licensed to Sotheby’s International Realty Affiliates LLC. Each Office Is Independently Owned and Operated
List of currently available SFHs and Condos
In the continuing absence of Open Houses in Marblehead and Swampscott (there are a handful in Salem, Beverly and Lynn), I am replacing the normal Open House post with one showing details of all houses and condos currently available for sale. Different arrangements are being made for viewing so please contact me to see what is possible. Properties are still selling in this environment.
Marblehead SFHs For Sale
Marblehead Condos For Sale
Swampscott SFH For Sale
Swampscott Condos For Sale
Salem SFHS For Sale
Salem Condos For Sale
Beverly SFHs For Sale
Beverly Condos For Sale
Lynn SFHs For Sale
Lynn Condos For Sale
Accepted Offers are picking up
A Calmer Mortgage Market
Recession and Recovery
Andrew Oliver
Market Analyst | Team Harborside | teamharborside.com
REALTOR®
Sagan Harborside Sotheby’s International Realty
One Essex Street | Marblehead, MA 01945
m 617.834.8205
www.OliverReports.com
Andrew.Oliver@SothebysRealty.com
Sotheby’s International Realty® is a registered trademark licensed to Sotheby’s International Realty Affiliates LLC. Each Office Is Independently Owned and Operated
New Listings week ending May 8
The number of New Listings remains small, but properties are selling, as buyers and sellers adjust to the new way of seeing properties.
Marblehead New Listings
Swampscott New Listings
Salem New Listings
Beverly New Listings
Lynn New Listings
Accepted Offers are Plateauing
A Calmer Mortgage Market
Recession and Recovery
Andrew Oliver
Market Analyst | Team Harborside | teamharborside.com
REALTOR®
Sagan Harborside Sotheby’s International Realty
One Essex Street | Marblehead, MA 01945
m 617.834.8205
www.OliverReports.com
Andrew.Oliver@SothebysRealty.com
Sotheby’s International Realty® is a registered trademark licensed to Sotheby’s International Realty Affiliates LLC. Each Office Is Independently Owned and Operated
Coronavirus-era homework station
The Boston Globe has published this coronavirus-era homework station guide.
I suspect that while most of us would vote for this location:
This one may be more realistic:
Have you created a homework nook or special location for your “school?”
I suspect two trends will emerge from this pandemic: more people, especially those with children, deciding to move out of Boston and to towns with space (and ocean!); and a move away from the open-plan trend of recent years as more private work spaces for more people are needed.
Andrew Oliver
Market Analyst | Team Harborside | teamharborside.com
REALTOR®
Sagan Harborside Sotheby’s International Realty
One Essex Street | Marblehead, MA 01945
m 617.834.8205
www.OliverReports.com
Andrew.Oliver@SothebysRealty.com
Sotheby’s International Realty® is a registered trademark licensed to Sotheby’s International Realty Affiliates LLC. Each Office Is Independently Owned and Operated
New Listings mid-week May 6
A trickle of New Listings, but homes are still selling – read Accepted Offers are plateauing – as buyers and sellers make creative arrangements for viewing. Also read Why are more Sellers opting for Private Listings?
Marblehead New Listings
Swampscott New Listings
Salem New Listings
Beverly New Listings
Lynn New Listings
A Calmer Mortgage Market
Recession and Recovery
Andrew Oliver
Market Analyst | Team Harborside | teamharborside.com
REALTOR®
Sagan Harborside Sotheby’s International Realty
One Essex Street | Marblehead, MA 01945
m 617.834.8205
www.OliverReports.com
Andrew.Oliver@SothebysRealty.com
Sotheby’s International Realty® is a registered trademark licensed to Sotheby’s International Realty Affiliates LLC. Each Office Is Independently Owned and Operated
Why are more Sellers opting for Private Listings ?
The Boston Globe points out in Pandemic has more sellers opting for private listings:
“As the novel coronavirus continues its deadly spread, some sellers are understandably skittish about letting a parade of potential buyers traipse through their homes day after day. That’s leading some sellers to consider a more discreet sales strategy usually reserved for public figures or the very wealthy: the private listing.”
Matt Dolan, a broker with Team Harborside at Sagan Harborside Sotheby’s International in Marblehead, has used private listings to keep sales quiet for couples going through a divorce or politicians, but he also represents a seller with an extensive antiques collection who doesn’t want to publicly disclose the address of his treasure trove and worries about browsers pocketing a priceless rarity. So Dolan is instructed to mention the home only to vetted clients. “I’m not allowed to market it, but if someone is looking for this type of property, I’m allowed to tell people about it,’’ he said.
Dolan prefers to list a home on the MLS whenever possible to take advantage of its reach, while relying on video tours and a verification process to “control the flow’’ of buyers. His team adheres to similarly strict safety protocols for in-person showings, and now requires “a fresh preapproval’’ before an on-site viewing. “Just because you were approved a month ago,’’ he said, “that’s not necessarily good enough, because mortgage guidelines are changing quickly.”
For more information read Guide to Buying or Selling a Home During a Pandemic.
Andrew Oliver
Market Analyst | Team Harborside | teamharborside.com
REALTOR®
Sagan Harborside Sotheby’s International Realty
One Essex Street | Marblehead, MA 01945
m 617.834.8205
www.OliverReports.com
Andrew.Oliver@SothebysRealty.com
Sotheby’s International Realty® is a registered trademark licensed to Sotheby’s International Realty Affiliates LLC. Each Office Is Independently Owned and Operated
Accepted offers are plateauing
The number of Accepted Offers for SFHs received in Essex County in the latest week suggests that sales activity is reasonably steady, averaging 84 per week over the last 5 weeks, which is 40-50% below last year’s levels::
This is the chart I post each week showing the Year-on-Year increase compared with 2019. Note that Holy Week was week 14 in 2010 and week 16 in 2019:
Comment
The real estate industry – professionals involved in transactions, as well as buyer and sellers – has adapted to the COVID-19 world. Buyers are out there and inventory remains low as some sellers delay listing.
Andrew Oliver
Market Analyst | Team Harborside | teamharborside.com
REALTOR®
Sagan Harborside Sotheby’s International Realty
One Essex Street | Marblehead, MA 01945
m 617.834.8205
www.OliverReports.com
Andrew.Oliver@SothebysRealty.com
Sotheby’s International Realty® is a registered trademark licensed to Sotheby’s International Realty Affiliates LLC. Each Office Is Independently Owned and Operated
Escape to Hawaii….
Are you zoom-ed out? Are you still wondering how to get that exotic background that everybody else seems to have?
Time to take a break and dream of Hawaii!
For a mere $27.5 million (actually only $27,480,000) you can buy this Hawaiian beachfront home .
The ever shrinking Housing Inventory
Single Family Homes (SFH)
After years of decline, the number of Single Family Homes (SFH) for sale in Essex County on the first of the month compared with a year earlier (YOY) increased from August 2018 until June 2019. The decline then resumed, as this table shows:
The next two charts (the first for January to June; the second July to December) show the number of SFHs for sale on the first of the month since 2017. In the first chart the numbers for 2020 YOY show the renewed decline (in 2019 inventory was increasing until June).
New Listings week ending May 1
Still a small number of New Listings, but properties are selling, as buyers and sellers adjust to the new way of “seeing” properties: (more…)
Currently available properties
In the continuing absence of Open Houses, I am replacing the normal Open House post with one showing details of all houses and condos currently available for sale. Different arrangements are being made for viewing so please contact me to see what is possible. Properties are still selling in this environment.
Click on these links for full details of each of the properties: (more…)
Happy 100th Capt… make that Col. Tom
The continuing triumphant and uplifting story continues on his 100th birthday:
Nano tiny house for $40,000
This Nano house with a living room, kitchen, bathroom, and bedroom, also has four seasons-approved heated floors, an insulated interior, and wooden exterior walls that have been sustainability altered for increased longevity.
Click photos to see more.
Andrew Oliver
Market Analyst | Team Harborside | teamharborside.com
REALTOR®
Sagan Harborside Sotheby’s International Realty
One Essex Street | Marblehead, MA 01945
m 617.834.8205
www.OliverReports.com
Andrew.Oliver@SothebysRealty.com
Sotheby’s International Realty® is a registered trademark licensed to Sotheby’s International Realty Affiliates LLC. Each Office Is Independently Owned and Operated
New Listings mid-week April 29
A trickle of New Listings, but homes are still selling – read Accepted Offers are picking up– as buyers and sellers make creative arrangements for viewing:
Marblehead New Listings
Swampscott New Listings
Salem New Listings
Beverly New Listings
Lynn New Listings
A Calmer Mortgage Market
Recession and Recovery
Andrew Oliver
Market Analyst | Team Harborside | teamharborside.com
REALTOR®
Sagan Harborside Sotheby’s International Realty
One Essex Street | Marblehead, MA 01945
m 617.834.8205
www.OliverReports.com
Andrew.Oliver@SothebysRealty.com
Sotheby’s International Realty® is a registered trademark licensed to Sotheby’s International Realty Affiliates LLC. Each Office Is Independently Owned and Operated
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